28 October, 2008

Starting with ....

What fascinates me about British banking is how yesterday they still seem to be. Maybe it's something about the number of people - but why should that limit their ability to develop decent online banking. Compared with other parts of the world they are so far behind. It takes days to process a transaction. Even through Internet banking nothing turns up immediately. If you want a new pin number for your ATM card - they want to send it to you in the mail several days later. Whay can they not manage a new pin number over the counter? Even Internet banking payments are only available on a cheque account. Why, why not all accounts? As for Eftpos - good grief. How can they be so far behind?

1 comment:

Alan Curtis said...

Update ... UK banking has made great progress since I was there previously. Eftpos has arrived and is everywhere. The introduction of debit cards has enabled widespread use, which means that credit cards are so much easier to process electronically as well.
I have also discovered the reason that the issuing of new ATM cards and PIN numbers is so pedestrian and I believe that this is about to change. Progress!